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2021
We established our sustainability working group to oversee strategy implementation and review progress against our strategic objectives. Our 2021 annual report included numerous sustainability disclosures, many of which were in line with TCFD recommendations and were reported earlier than the FCA's Listing Rules reporting requirements.
2022
We undertook a gap analysis of our current climate-related disclosures and planned activities against the TCFD framework and our 2022 annual report confirmed that our disclosures are compliant with the TCFD's recommendations with one exception (detailed climate scenario analysis). This was an action carried forward to the next financial year.
2023
During the year, we undertook an in-depth climate scenario analysis to assess how climate related risks and opportunities may change and impact us in a range of future scenarios. Our assessment considered three areas related to the most significant risks and opportunities identified within our TCFD report. The data and information used to support our analysis arises from a range of sources aligned with a range of temperature outcomes to 2100 (further detail of the scenarios is contained in the Strategy page).
Having started the process of setting new long-term, science-based Net Zero carbon targets for the Group, we are on schedule to submit these for validation by the Science Based Targets initiative ('SBTi') during early financial year 2024.
2024
Next year, we aim to disclose the financial impact of our climate scenario analysis. We will incorporate our recent acquisition of VSCH, in the Netherlands, in our in-depth analysis.
We plan to further develop our approach to monitoring progress and the disclosure of our key metrics and targets.